Troubled refinery bankrupt after EPA shutdown

摘要

The troubled Limetree Bay refinery has filed for bankruptcy, two months after EPA regulators invoked rarely used emergency powers to halt operations at the plant in the U.S. Virgin Islands. "Severe financial and regulatory constraints have left us no choice but to pursue this path, after careful consideration of all alternatives," Jeff Rinker, CEO of Limetree Bay Ventures LLC, said in a statement posted yesterday on the company’s website announcing the Chapter 11 reorganization. That process "provides Limetree with the clearest path to maximize the value of our estate for our stakeholders while safely preparing the refinery for an extended shutdown," Rinker said. The release added that Limetree Bay plans to use the breathing room provided by the Chapter 11 proceedings to evaluate options including "a potential sale of its assets."